Global Financial Strategy - Bowles: Euro may be dead by Christmas

Global Financial Strategy

Search the site >>Advanced search

First for financial regulatory news and views

Bowles: Euro may be dead by Christmas

Friday 2 December 2011 – by [email protected]

Leading MEP Sharon Bowles says Europe is potentially facing the demise of the single currency by Christmas.

The chair of the European Parliament’s economic and monetary affairs committee warned that a break up of the euro will lead to “rampant protectionism” and urged leaders to work to save the European Union.

Speaking to a mortgage industry conference in London on Thursday, Bowles said: “We are potentially facing the demise of the euro by Christmas and if that happens it will wreck our economy.

“Contrary to what the eurosceptics say, the issue now is not whether the UK remains in the EU but how we contain the eurozone crisis.

“If the euro breaks up, I think there will be rampant protectionism. Even if you get a smaller euro with just the AAA countries huddling together they will still go down the track of protectionism.

“If the Euro breaks up then countries, including the UK, should work to save the EU, so that we continue to benefit from the single market and avoid a situation of every man for himself.

Related articles:

Bowles: EFSF should be increased to €2tn

MEP wants EU ‘social stock exchange’ in UK

Draghi has big shoes to fill in Bowles’ affections

Sharon Bowles, Chair of European Parliament’s ECON Committee

Barnier in evidence talks with UK MPs

“We need something concrete and substantial next week from leaders. Promises and packing up for Christmas holidays will not do.”

WHAT DO YOU THINK?

Name:

Email:

Comment:

Post as	Anonymous
	Display name

Please, enter security code

READERS’ COMMENTS

2011-12-02 15:57:40 | Anonymous

The sooner the euro is dead the better,it will not be easy, but if we do not sort out the euro mess now we will have to at some time in the future. Let us get back to being good neighbours, free movement of trade yes, but not uncontrolled borders.Make very sure that banks lending is properley controlled so that these fools do not get us into this mess again.Nation states first & last.

Login	Register	Most read	Most commented
Username Password >> Remember me >> Forgotten your password? >> Sign Up GFS is pleased to offer you a two-week free trial. You will receive a daily email bulletin of the latest regulatory news and analysis and a weekly email round-up. Please complete the free trial form. You will also receive full access to our online site.

EDITOR’S CHOICE

INTERVIEWS & FEATURES

STRAW POLL

Will markets in 2012 have a tougher time than 2011?

FIND A REGION